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Nairobi, Kenya – The Central Bank of Kenya (CBK) has called on Kenyans to share their views on the Draft National Financial Inclusion Strategy (NFIS) for 2025 to 2028. According to the notice, on Thursday, September 25, 2025, the strategy aims to guide the next phase of Kenya’s journey
Nairobi, Kenya — September 25, 2025 (EAT).
The Central Bank of Kenya (CBK) has invited Kenyans to submit their views on the Draft National Financial Inclusion Strategy (NFIS) 2025–2028, a blueprint designed to accelerate access to affordable, quality, and inclusive financial services across the country.
In a notice issued on Thursday, CBK announced that the NFIS 2025–2028 aims to consolidate gains from earlier reforms while addressing persistent gaps in financial access, consumer protection, and digital inclusion.
“To consolidate the gains made in the financial inclusion journey in Kenya, the Central Bank of Kenya (CBK), in collaboration with public and private sector stakeholders, is in the process of developing a National Financial Inclusion Strategy (NFIS 2025–2028),” the notice read.
The regulator said public participation would shape the strategy’s priorities, ensuring it reflects the needs of citizens, businesses, and policymakers as Kenya deepens its digital finance ecosystem.
Past reforms: Kenya’s first NFIS (2018–2022) drove mobile money adoption, microfinance growth, and credit access expansion but highlighted gaps in rural penetration, financial literacy, and consumer safeguards.
Financial inclusion milestones: The 2021 FinAccess survey showed 83% of adults had access to formal financial services, up from 26% in 2006, largely driven by M-PESA and agency banking.
Emerging challenges: Digital lending abuses, cybersecurity risks, and underrepresentation of women and rural populations remain key concerns.
Mandate: CBK derives authority from the Central Bank of Kenya Act to promote financial stability and inclusion.
Policy alignment: NFIS 2025–2028 aligns with Kenya Vision 2030 and the African Union’s Agenda 2063 on inclusive growth.
Next steps: Public feedback will be incorporated before Cabinet approval and eventual rollout in early 2026.
CBK Governor Kamau Thugge: “Inclusive finance is not just about access; it’s about affordability, trust, and empowerment. We want every Kenyan to feel part of the formal financial system.”
Banking sector representatives: Industry players have welcomed the strategy, citing opportunities in SME financing, insurance penetration, and green finance.
Consumer advocates: Groups want stronger provisions on digital credit regulation and data privacy protections for mobile money users.
Access gaps: 83% access to formal services vs. only 23% insurance coverage nationally.
Gender disparity: Women remain 8–10 percentage points behind men in access to formal credit products.
Digital finance dominance: Mobile money accounts for over 67% of transactions in Kenya’s payments ecosystem.
Economic growth: Deeper financial inclusion could unlock SME credit, boosting GDP growth by an estimated 2–3% annually.
Debt stress: Poorly regulated digital lending risks over-indebtedness and consumer exploitation.
Cybersecurity threats: Expanding digital services without robust safeguards could expose millions to fraud.
Whether NFIS 2025–2028 will include caps on digital lending interest rates.
The role of blockchain and AI-driven finance tools in the final strategy.
How the strategy will coordinate national ID data with credit scoring systems.
2018–2022: First NFIS implemented.
Sept 25, 2025: Draft NFIS 2025–2028 released for public comment.
Early 2026: Final strategy expected to be adopted by Cabinet.
Public feedback period: Submissions open until October 30, 2025.
Parliamentary debates: Finance Committee to review strategy after Cabinet approval.
Implementation funding: National Treasury expected to outline financing in 2026/27 budget.
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